Elevation Oncology, Inc. (NASDAQ:ELEV) Receives $7.20 Consensus Price Target from Brokerages

Shares of Elevation Oncology, Inc. (NASDAQ:ELEV) have been assigned a consensus recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.20.

A number of equities analysts have issued reports on ELEV shares. William Blair assumed coverage on shares of Elevation Oncology in a research report on Friday, January 3rd. They issued an “outperform” rating on the stock. JMP Securities restated a “market outperform” rating and set a $7.00 price target on shares of Elevation Oncology in a report on Thursday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Elevation Oncology in a research report on Friday, December 13th. Finally, Stephens reiterated an “overweight” rating and issued a $5.00 price objective on shares of Elevation Oncology in a research report on Friday, December 6th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Elevation Oncology in the 2nd quarter valued at approximately $415,000. Rhumbline Advisers purchased a new position in Elevation Oncology during the second quarter valued at $175,000. American Century Companies Inc. boosted its holdings in shares of Elevation Oncology by 55.7% during the 2nd quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock valued at $133,000 after buying an additional 17,602 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Elevation Oncology in the 2nd quarter worth about $103,000. Finally, Logos Global Management LP increased its stake in shares of Elevation Oncology by 285.0% in the 2nd quarter. Logos Global Management LP now owns 3,850,000 shares of the company’s stock worth $10,395,000 after acquiring an additional 2,850,000 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Elevation Oncology Trading Down 1.3 %

Shares of ELEV stock opened at $0.83 on Friday. The business has a 50-day moving average of $0.61 and a 200 day moving average of $1.08. The company has a debt-to-equity ratio of 0.45, a current ratio of 17.77 and a quick ratio of 17.77. Elevation Oncology has a 1-year low of $0.50 and a 1-year high of $5.83. The stock has a market capitalization of $48.99 million, a PE ratio of -1.01 and a beta of 1.28.

Elevation Oncology (NASDAQ:ELEV) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). As a group, sell-side analysts anticipate that Elevation Oncology will post -0.85 earnings per share for the current year.

About Elevation Oncology

Elevation Oncology, Inc, an oncology company, focuses on the discovery and development of cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs. The company's lead candidate is EO-3021, an antibody-drug conjugate designed to target Claudin 18.2, a clinically validated molecular target.